Fresh off a $400,000 “testing the waters— round of fundraising, Wall Street attorney Reshma Saujani (D) announced she will challenge Rep. Carolyn Maloney (D).

Saujani, a well-connected former lawyer for Hillary Rodham Clinton’s political action committee, launched her dark-horse campaign for the 14th district seat Sunday. She faces long odds going up against Maloney, a nine-term incumbent and chairwoman of the Joint Economic Committee.

And despite Saujani’s impressive fundraising haul, she still trails well behind Maloney, who had $1.8 million in cash on hand at the end of 2009 compared with $386,000 for Saujani.